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The DIBS Method... No Free Lunch continues

  • #8,201
  • Jun 23, 2009 5:17am Jun 23, 2009 5:17am
Quoting FxMatt
Dibs on Cable at 10:00 GMT but heading into support and round number. Quite a bit of support on daily as well. Could be nice if it broke though.

What do you think?
I have a pending sell at 6228, will remove 1/2 at support and let the rest run
  • #8,202
  • Jun 23, 2009 5:18am Jun 23, 2009 5:18am
Quoting FxMatt
Dibs on Cable at 10:00 GMT but heading into support and round number. Quite a bit of support on daily as well. Could be nice if it broke though.

What do you think?
Good post and well thought through. Price action on the weekly and the daily looks very toppy. Dibs is a great way to get in on the fun at low risk/drawdown. Just my thoughts.
Gone to a better place
  • #8,203
  • Jun 23, 2009 5:58am Jun 23, 2009 5:58am
On my chart cable has got jammed under 1.63 and the daily trend line.
Gone to a better place
  • #8,204
  • Jun 23, 2009 6:24am Jun 23, 2009 6:24am
Key level to watch on Cable. Notice the bar highs & lows!

Z
Attached Image(s) (click to enlarge)
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  • #8,205
  • Jun 23, 2009 6:44am Jun 23, 2009 6:44am
Anyone else using the 4h charts for their DIBS? UJ had a good setup.

Z
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  • #8,206
  • Jun 23, 2009 7:02am Jun 23, 2009 7:02am
Dibs on USD CAD at 12:00 GMT. Has had resistance off weekly and 76% fib retrace on daily. Next support short around 11450.

What do you think?
Attached Image (click to enlarge)
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  • #8,207
  • Jun 23, 2009 7:15am Jun 23, 2009 7:15am
Quoting FxMatt
Dibs on USD CAD at 12:00 GMT. Has had resistance off weekly and 76% fib retrace on daily. Next support short around 11450.

What do you think?
Good call FxMatt.

Going short off the inside bar would be a valid DIBS short trade. However, compressing the 1hr chart, i see a different picture and would much rather take a long DIBS or a short after the support you highlighted.

I guess this is where we all apply the DIBS differently?

Z
Attached Image (click to enlarge)
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  • #8,208
  • Jun 23, 2009 7:18am Jun 23, 2009 7:18am
Quoting zuret9
Anyone else using the 4h charts for their DIBS? UJ had a good setup.

Z
I agree Z. My chart shows a Dibs on the 4 hour close at 12:00 GMT yesterday. Didn't take it as I didn't spot it at the time (need to open my eyes more). Was a valid short to PC guidelines though as trade open was below the weekly open.

Matt
  • #8,209
  • Jun 23, 2009 7:21am Jun 23, 2009 7:21am
Quoting zuret9
Good call FxMatt.

Going short off the inside bar would be a valid DIBS short trade. However, compressing the 1hr chart, i see a different picture and would much rather take a long DIBS or a short after the support you highlighted.

I guess this is where we all apply the DIBS differently?

Z
Yes I can see now. PPZ on the daily around 11475. Will be interesting to see how it works out.

Matt
  • #8,210
  • Jun 23, 2009 7:22am Jun 23, 2009 7:22am
Quoting FxMatt
I agree Z. My chart shows a Dibs on the 4 hour close at 12:00 GMT yesterday. Didn't take it as I didn't spot it at the time (need to open my eyes more). Was a valid short to PC guidelines though as trade open was below the weekly open.

Matt
Keep posting brother, i like your analysis.

Z
  • #8,211
  • Jun 23, 2009 7:23am Jun 23, 2009 7:23am
USDCad could be heading down. There is alot of resistance above. Commods have pulled back some today as well so yes I think the CAD will head lower. Im looking for weaker US. I have taken longs on the AUD/JPY and USD. both are off daily trendlines.
Attached Image(s) (click to enlarge)
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  • #8,212
  • Jun 23, 2009 7:44am Jun 23, 2009 7:44am
Where is AU most likely going to stall? I won't be holding this one much longer than i need to.

Z
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  • #8,213
  • Jun 23, 2009 7:50am Jun 23, 2009 7:50am
Quoting zuret9
Where is AU most likely going to stall? I won't be holding this one much longer than i need to.

Z
On my 4 hour charts I have 7900, then 8000 (also weekly PPZ), then 8050 as resistance zones. 1 hour has found res around 7970 previously.

Matt
  • #8,214
  • Jun 23, 2009 8:12am Jun 23, 2009 8:12am
Quoting FxMatt
...... as resistance zones.

Matt
The word zone(s) is key. Although not an exact science, we can sometimes narrow it down to very small zones.

Z
  • #8,215
  • Jun 23, 2009 8:49am Jun 23, 2009 8:49am
We may get some stalls and we may get some more action, we may even get stopped out. Im BE on both so I am now looking to the bigger picture and that is action along the TL. So far both these pairs have trended beautifully. After touches/swings to the down side the first resulting Bull bar has proven to be backed up by subsequent days of bull action. I still think we are heading higher but then I have seen strange things happen, regularly.

Free trade is first stop, im there so next station is higher High
  • #8,216
  • Jun 23, 2009 10:29am Jun 23, 2009 10:29am
Quoting FxMatt
Yes I can see now. PPZ on the daily around 11475. Will be interesting to see how it works out.

Matt
That PPZ did it's job Z
  • #8,217
  • Jun 23, 2009 11:17am Jun 23, 2009 11:17am
Quoting FxMatt
That PPZ did it's job Z
When correctly identified PPZ can be very helpful.

Z
  • #8,218
  • Jun 23, 2009 12:15pm Jun 23, 2009 12:15pm
thank you all for this thread
  • #8,219
  • Jun 23, 2009 7:11pm Jun 23, 2009 7:11pm
Does anyone in the eastern United States who actively trades DIBS want to share their secret for trading at all hours of the night? Trying to start my trading day at 2am (0600 GMT) is killing me, and I'm already a coffee-holic!

Tyler
skype: ststroud. let's talk trading.
  • #8,220
  • Jun 24, 2009 3:30am Jun 24, 2009 3:30am
Quoting tyler812
Does anyone in the eastern United States who actively trades DIBS want to share their secret for trading at all hours of the night? Trying to start my trading day at 2am (0600 GMT) is killing me, and I'm already a coffee-holic!

Tyler
I'm in WI, so only 1 hour off... I started sleeping biphasically a little over a month ago. It has really helped me stay up and alert during London. Granted the hours will have to change for you (to be up 2.5 hrs earlier or so)...
My sleep pattern:
10:00pm-2:30am CT
12:30pm-2:00pmCT

I'm not currently trading DIBS, but if I were, I would consider switching the patterns such that I would take a nap at night and get my core sleep in the afternoon.

See my link for much more information about it...
http://www.stevepavlina.com/forums/h...tml#post346094

Josh
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